Luna Foundation Guard raises $1B in a sale of LUNA, the Terra's blockchain native token, to form a BTC-denominated forex reserve for Terra's UST stablecoin (Ryan Weeks/The Block)

studypoint 01:09 Techmeme

Ryan Weeks / The Block:
Luna Foundation Guard raises $1B in a sale of LUNA, the Terra's blockchain native token, to form a BTC-denominated forex reserve for Terra's UST stablecoin — Quick Take — The capital will be used to create a new reserve that can act as a “release valve” for UST redemptions during selloffs in crypto markets.

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